Teachers Mutual cuts rates by up to 31 basis points

article header

Teachers Mutual Bank has cut its interest rates for owner-occupiers who take out new home loans and fix their rates.

Borrowers must also have a maximum loan-to-value ratio (LVR) of 80 per cent and opt for principal-and-interest repayments if they want to qualify for the lower fixed rates.

The new rates are:

  • 3.79 per cent for one-year fixed rates
  • 3.84 per cent for two-year fixed rates
  • 3.99 per cent for three-year fixed rates

The changes took effect on 17 August, and also apply to UniBank and Firefighters Mutual Bank, which are subsidiaries of Teachers Mutual.

Teachers Mutual undercutting the market

Teachers Mutual’s new rates are below the market average, according to an analysis of all the owner-occupier fixed-rate products on RateCity on 31 July.

The market averages are:

  • 4.23 per cent for one-year fixed rates
  • 4.18 per cent for two-year fixed rates
  • 4.23 per cent for three-year fixed rates



^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on